1. 5 years from now, how do you think digital transformation will affect your industry business operations?
Technology has had a favorable influence on the modern business and that is evident across organizations who embraced digital empowerment. While Digital has reshaped the mechanisms to conduct day to day business activities in the past & present, it will continue to disrupt businesses in the future. The role will change from driving efficiency to be more of a catalyst for innovation in business processes leading to re-engineered approach towards workforce skilling, products development, process design and importantly in business investments apart from accelerated adoption of new technologies.
Consumer desires is going to become key for new developments & comprehend the pace of innovations as technology influences will be more on human emotions. Now with so much data & machine learning in place already, decision support is only going to get better with AI assuring businesses on their reactions towards business situations.
2. Digital Transformation is an ongoing phenomenon. Your thoughts?
Digital Transformation has surely to be an ongoing phenomenon but it’s merely not an outcome or end goal it’s a radical rethink on the entire strategy of an organization. The adoption rate is phenomenal and it’s reclassifying every order of things that exists today and will continue to be so in future.
However there has to be a balance between innovations & sustained operations to run business efficiently, therefore organizations will pave their approach, relying largely on adoption trends in similar industries, their best practices and the impacts of change. Businesses can be broadly classified as the one who are set to start the journey, the one’s which are midway on their journey or the one’s which are already leading the path, each one of them will have their own engagements today & tomorrow, due to the next technology breakthrough, as digital transformation is key to business survival in the new age.